The present invention is directed to devices which are sometimes referred to as "reel jacks". Such devices can be used to lift and/or support large, heavy reels of industrial cable off of the ground or other support surface to allow cable to be easily removed from the reel by simply pulling the cable and rotating the reel. Arrangements of this general type are shown in prior art U.S. Pat. Nos. 970,884, 1,404,672, 1,509,717, 2,601,960, 3,069,110, 3,120,358, 4,172,608 and 4,469,289. These arrangements are bulky, awkward to operate and not readily collapsible making transportation of the device from one job site to another cumbersome.